Author: icsswpadmin

Silicon Valley Bank – previously the 16th largest bank in the US and reportedly a source of funding for half of all the tech startups in the US – has collapsed.

It’s now become clear the more general banking crisis that has emerged is not due simply to a rogue, mismanaged bank that over-extended itself during the recent tech boom and then somehow mysteriously imploded in just 72 hours, March 7-9, until seized by the FDIC on the morning of March 10, 2023.

Deeper, more systemic forces are at play—in the case of both the SVB collapse and the now spreading contagion to US regional banks as well as to European banks. The SVB is just the tip of the current financial instability iceberg. In Europe the focus is the now collapsed big Credit Suisse bank announced today, March 19, by Switzerland’s central bank. The problem is thus now not just US regional bank centric, but is rapidly becoming global systemic.

What then are the systemic forces responsible for the SVB collapse and now spreading instability to US regional banks and European banks?

Dr. Jack Rasmus, Ph.D Political Economy, teaches economics at St. Mary’s College in California. He is the author and producer of the various nonfiction and fictional workers, including the books The Scourge of Neoliberalism: US Economic Policy From Reagan to Bush, Clarity Press, October 2019; Alexander Hamilton & The Origins of the Fed, Lexington books, March 2019; Central Bankers at the End of Their Ropes: Monetary Policy and the Coming Depression, Clarity Press, August 2018; Looting Greece: A New Financial Imperialism Emerges, Clarity Press, Sept. 2016; Systemic Fragility in the Global Economy, Clarity Press, January 2016; ‘Obama’s Economy: Recovery for the Few‘, Pluto Press, 2012, ‘Epic Recession: Prelude to Global Depression‘, Pluto Press, 2010, and ‘The War at Home: The Corporate Offensive from Ronald Reagan to George W. Bush‘, Kyklosproductions, 2006. He has written and produced several stage plays, including ‘Fire on Pier 32‘ and ‘1934‘. Jack is the host of the weekly radio show, Alternative Visions, on the Progressive Radio Network, and a journalist writing on economic, political and labor issues for various magazines, including European Financial Review, World Financial Review, World Review of Political Economy, ‘Z‘ magazine, and others. Before his current roles as author, journalist and radio host, Jack was an economist and market analyst for several global companies for 18 years and, for more than a decade, a local union president, vice-president, contract negotiator, and organizer for several labor unions, including the UAW, CWA, SEIU, and HERE. Jack’s website is www.jackrasmus.com.

US aggression toward China is escalating and China is shedding its usual restraint to more clearly call out this aggression and warn the US not to overstep its red lines. K. J. Noh, an activist, journalist, and scholar on the geopolitics of the Asian continent, will discuss the renewed belligerence of South Korea under President Yoon Suk-yeol, the increasing militarization of Japan, shifting alliances in Western Asia, and how China, including Taiwan, is responding. Noh will also speak about efforts in the United States to prepare for a war against China and how that is increasing violence against Asian Americans, as well as what we can do to prevent what would be a catastrophic conflict.
K. J. Noh is a journalist, political analyst, writer, and teacher specializing in the geopolitics of the Asia-Pacific region.

One year into the War in Ukraine, the world has been redivided into two progressively decoupling camps, threatening a New Cold War. Meanwhile each camp is being drawn more tightly together. While the war began suddenly on February 24, 2022, its preconditions were a long time in the making. Was it really unprovoked as is relentlessly claimed? While this is one of a number of globally-televised wars, how is the Ukraine War different from the others? Whose interests does it serve? Dr. Sharat G. Lin examines the root causes of conflict, how peace can be brought about, and how the war is forging a new world order.

Our speaker, Dr. Sharat G. Lin, is with Human Agenda, the San José Peace & Justice Center, and the Initiative for Equality. He writes and lectures on global political economy, labor migration, and public health.

In 1876, Engels complained about “that idealistic world outlook which, especially since the fall of the world of antiquity, has dominated men’s minds. It still rules them to such a degree that even the most materialistic natural scientists of the Darwinian school are still unable to form any clear idea of the origin of man, because under this ideological influence they do not recognise the part that has been played therein by labour.” This situation remains true today, nearly a century and a half later, as prominent bourgeois institutions entertain us with vivid videos of the latest fossil finds in Africa and elsewhere without ever mentioning the role of labor in the lives of the people who left these remains.

This talk, by Professor Eugene E Ruyle, will discuss Engels contribution noting that the spectacular fossil finds since Engels’ death of the twentieth century have confirmed Engels brilliant insight that: “First comes labour, after it, and then side by side with it, articulate speech – these were the two most essential stimuli under the influence of which the brain of the ape gradually changed into that of man, which for all its similarity to the former is far larger and more perfect.” Ruyle will also discuss why bourgeois anthropology has neglected the work of Marx and Engels, in spite of their obvious importance.

Our speaker, Eugene E Ruyle, is Emeritus Professor of Anthropology at Cal State Long Beach, a working class university. He earned his PhD in 1971 and has published numerous articles, including “Labor, People, Culture: A Labor Theory of Human Origins” Yearbook of Physical Anthropology Vol 20, 1976. He currently lives in Oakland, CA where he is affiliated with the ICSS@NPML. He is also President of the East Bay Chapter of Veterans For Peace.

Open Discussion on the State of the Movement Against the War in Ukraine

The recent Rage Against the War Machine demonstration in Washington DC exposed deep divisions within our movement. Open Mic! Bring your thoughts about this. We encourage and will allow five to ten minutes for you to present your ideas for discussion. Some questions to consider:

(1) What are the political, economic, and military factors that led to this war?

(2) Who are the main forces in the antiwar movement – what is their class character and what are their political demands?

(3) How to build the antiwar movement? Why is there so much support in the US and so little opposition to the war? What happened to the antiwar movement – why did it split over the Rage Against the War demonstration, and how can we revive and build it? Who should socialists unite with to do so, and how?